https://www.taxtmi.com/caselaws?id=377448 The Court held that the assessing officer had the authority to extend the time for the submission of the audit report without an application from the assessee under Section 142(2C) of the Income Tax Act, 1961. The amendment by the Finance Act, 2008, introducing the term "suo motu," was deemed clarificatory and retrospective in nature. The Court overruled the Delhi High Court judgment and remanded the appeals for decisions on merits, emphasizing the retrospective application of procedural amendments unless expressly stated otherwise. en-us Tue, 26 Mar 2019 00:00:00 +0530 Wed, 15 May 2019 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377448 The Court held that the assessing officer had the authority to extend the time for the submission of the audit report without an application from the assessee under Section 142(2C) of the Income Tax Act, 1961. The amendment by the Finance Act, 2008, introducing the term "suo motu," was deemed clarificatory and retrospective in nature. The Court overruled the Delhi High Court judgment and remanded the appeals for decisions on merits, emphasizing the retrospective application of procedural amendments unless expressly stated otherwise. Case-Laws Income Tax Tue, 26 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377448